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18011 Hoover St, Detroit, MI 48205

View Smart Contracts: Eth xDai

Total Investment: $ 422,604.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Token Type

    Standard Equity

  • Expected Income

    9.29%

    Not including capital appreciation

  • Income Start Date

    July 15, 2024

  • Income per Token

    $ 4.67 / year

  • Token Price

    $ 50.31

  • Total Tokens

    8,400

All financial statements of property yield are best estimates based on current conditions, and can change at any time.

We are targeting the above yield for investors; however, no assurance can be given that you will obtain any return on investment, and there is a risk that you can lose your entire investment.

  • Property Type

    Multi Family

  • Full Address

    18011 Hoover St, Detroit, MI 48205

  • Country

    USA

  • Source

    RealT

  • Neighborhood

    Von Steuben

  • Construction Year

    1955

  • Total Units

    7 Units

  • Bedroom/Bath

    7x1 Bed / 7x1 Bath

  • Rental Type

    Long Term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    Section 8

  • Rent Subsidy Pays...

    100%

Property Financials

  • Gross Income / year

    $ 74,760.00

  • Gross Income / month

    $ 6,230.00

  • Monthly Costs

    - $ 2,958.00
    • Property Management (8.00%)
      - $ 498.40
    • RealT Platform (2.00%)
      - $ 124.60
    • Maintenance Expenses
      - $ 500.00
    • Property Taxes
      - $ 575.00
    • Insurance
      - $ 560.00
    • Utilities
      - $ 700.00

  • Net Income / month

    $ 3,272.00

  • Net Income / year

    $ 39,264.00

  • Total Investment

    $ 422,604.00
    • Underlying Asset Price
      $ 350,000.00
    • Sourcing Fee (10%)
      $ 42,260.40
    • Initial Maintenance Reserve
      $ 12,460.00
    • Initial Renovation Reserve
      $ 15,000.00
    • Administrative Fees
      $ 2,500.00
    • Miscellaneous Costs
      $ 350.00
    • Unrounded Listing Price
      $ 422,570.40
    • Rounding Difference
      $ 33.60

  • Expected Income

    9.29%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    8,190

  • Foundation

    Masonry

  • Exterior Walls

    Brick

  • Roof Type

    Asphalt

  • Interior Size (sqft)

    3,151

  • Heating

    Complete HVAC

  • Building Class

    C

  • Renovated

    Yes

Blockchain

  • Identifier

    REALTOKEN-S-18011-HOOVER-ST-DETROIT-MI

  • Total Tokens

    8400

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Incorporation Date

    May 9, 2024

  • Offering Date

    May 9, 2024

  • Issuer

    RealToken International 18011 Hoover St Inc

  • Min. Investment Amount

    $50.31

  • Max. Investment Amount

    $422,604.00

  • Amount Raised

    $422,604.00

  • Offering Percent (of Total Tokens)

    100.00%

Rent Assistance!

This property's rent is partly or wholly paid by the U.S. Federal Government through HUD Section 8.

The rent of Section 8 properties is usually exceptionally stable.

Learn More

About the Property

A Welcoming Lifestyle

Step into the inviting ambiance of 18011 Hoover, a multi-family residence offering 7 units, each featuring 1 bedroom and 1 bathroom. Located near Grace Church of the Nazarene and Brenda Scott Academy, this property provides many convenient amenities for its residents. The nearby Optimist-Parkgrove Playground serves as a focal point for community gatherings, fostering a sense of camaraderie among neighbors.

Ample Green Spaces

Named after American Revolutionary War hero Friedrich Wilhelm von Steuben, the Von Steuben neighborhood has a rich cultural heritage rooted in Detroit’s industrial past. The neighborhood’s charming brick Tudor-style homes, as well as its vintage bungalow and ranch-style residences, reflect its historical significance and architectural character. With grid-patterned streets and ample green spaces, Von Steuben offers suburban tranquility.

Sustainable Profitability

Hoover makes for a solid investment opportunity with its 9.29% expected income. Acquired for $350,000, this property includes a $15,000 renovation budget set aside for painting, gardening, and deferred maintenance.  Hoover’s strategic proximity to neighboring RealT properties such as 17813 Bradford, 17335 Bradford, and 17616 Beland also fosters synergies, driving down maintenance costs and maximizing investment returns.

Map

Property Records

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Why Detroit?

INVEST RIGHT

Detroit, one of the fastest growing major cities in America and best kept real estate secrets, is rich with history, and  possesses a colorful cultural fabric. Despite being among the 15 largest metro areas in the US, Detroit drivers spend the least amount of time in traffic during peak periods. Beyond automotive innovation, Detroit is home to dozens of startup incubators, and is surging on Inc.’s list of top 50 cities to start a business*. Root for the Lions, Tigers, Pistons and Red Wings, or enjoy the outdoors with over 200 miles of hiking trails nearby, 9 state parks, and over 3200 miles of coastline to explore.

There’s something for everyone here, because Detroit is for everybody.

The Interests, in the form of Series #1 RealTokens and future series of RealTokens, being offered are highly speculative in nature, involve a high degree of risk and should be purchased only by persons who can afford to lose their entire investment. There can be no assurance that the Company’s business objectives will be achieved or that a secondary market would ever develop for the Interests, whether via the RealToken Website, via third party registered broker-dealers or otherwise. Investing in private placements requires high risk tolerance, low liquidity concerns, and long-term commitments. The Interests being sold are not FDIC insured, may lose value, and there is no bank or other guarantee.

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